Tohoku Shinkansen Land market overview

The average price of a sq.m Land of Tohoku Shinkansen (Ichinoseki to Ninohe), in Jul, 2016 to Sep, 2016 was 39,583 JPY/sq.m. The market value represents an increase of 4,573 JPY (+13.1%) compared to 1 year ago and a transition to a bull market. 42 properties exchanged hands ( The market value represents a decrease of 18 (-30.0%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 424.9 sq.m (a +2.1% increase compared to the 416.2 sq.m of last year.).

One distinguishing feature of recent real-estate transactions was a dramatic increase in transactions involving relatively large size more than 100 sq.m.

4 stations have experienced increased prices; 1 stations have experienced decreased prices. The overall trend was the same as last year. Ichinoseki, Kitakami station has seen a price increase of over 20% compared to last year. The most dramatic price increase was at Ichinoseki station, where prices have increased +35.7% compared to last year; a sq.m unit now costs 33,366 JPY/sq.m.

The top 1 stations has seen prices increase +35.7% (+8,769 JPY/sq.m). On the other hand, The bottom 1 stations has seen prices decrease -96.7% (-8,700 JPY/sq.m).


Cause of price increases

  • An decrease in average distance from the station (representing 31.2 min in 2015 and 27.9 min in 2016; -10.6%)
  • A dramatic increase in transactions involving locations relatively near to the station less than six minutes by foot from the station (representing 1.7% of total transactions in 2015 and 4.8% of total transactions in 2016)

Breakdown of each segment

The table below shows Land dealt in Tohoku Shinkansen, in age, distance from station, and area segments. For example, we can see market trends, such as which transactions have increased more in recent years, those for newer properties, or older ones.

Segment:

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Land stations market overview

The average price of a sq.m Land of Morioka, the highest market value along this railway was 58,882 JPY/sq.m. The market value represents an increase of 7,364 JPY (+14.3%) compared to 1 year ago and a transition to a bull market. 17 properties exchanged hands ( The market value represents a decrease of 8 (-32.0%) compared to 1 year ago and a transition to a dramatic market.).

The average price of a sq.m Land of Iwate-Numakunai, the lowest market value along this railway was 300 JPY/sq.m. The market value represents a decrease of 8,700 JPY (-96.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

Tohoku Shinkansen (Stations Land market overview)
Tohoku ShinkansenThis year(2016)1 year ago2 years ago
Ichinoseki33,366 JPY (0.0Y/560.0sq.m)24,597 JPY (0.0Y/485.5sq.m)25,221 JPY (0.0Y/539.1sq.m)
Mizusawa Esashi---
Kitakami28,708 JPY (0.0Y/480.0sq.m)22,037 JPY (0.0Y/428.1sq.m)25,727 JPY (0.0Y/263.8sq.m)
Shin-Hanamaki13,186 JPY (0.0Y/910.0sq.m)--
Morioka58,882 JPY (0.0Y/286.5sq.m)51,518 JPY (0.0Y/264.2sq.m)53,205 JPY (0.0Y/357.5sq.m)
Iwate-Numakunai300 JPY (0.0Y/250.0sq.m)9,000 JPY (0.0Y/800.0sq.m)13,324 JPY (0.0Y/535.0sq.m)
Ninohe19,819 JPY (0.0Y/573.8sq.m)17,072 JPY (0.0Y/865.0sq.m)10,509 JPY (0.0Y/373.3sq.m)
*Average unit prices per sq.m of Land at each train station were calculated using the Utinokati database of actual market sales prices (based on surveys conducted by the Ministry of Land, Infrastructure, Transport, and Tourism of Japan). Units: JPY (Japanese Yen); parenthesis contain average age in years of building / equivalent measurement of area of real estate.
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Noteworthy stations

Ichinoseki33,366 JPY/sq.m (+36% compared with the previous year)

The average price of a sq.m Land of Ichinoseki was 33,366 JPY/sq.m. The market value represents an increase of 8,769 JPY (+35.7%) compared to 1 year ago and a transition to a dramatic market. 5 properties exchanged hands ( The market value represents a decrease of 17 (-77.3%) compared to 1 year ago and a transition to a dramatic market.).

The average size of the real estate was 560.0 sq.m (a +15.4% increase compared to the 485.5 sq.m of last year.).

Cause of price increases

  • A dramatic decrease in average distance from the station (representing 32.4 min in 2015 and 20.4 min in 2016; -37.1%)

Iwate-Numakunai300 JPY/sq.m (-97% compared with the previous year)

The average price of a sq.m Land of Iwate-Numakunai was 300 JPY/sq.m. The market value represents a decrease of 8,700 JPY (-96.7%) compared to 1 year ago and a transition to a dramatic market. 1 properties exchanged hands (It was the same as last year.).

The average size of the real estate was 250.0 sq.m (a -68.8% decrease compared to the 800.0 sq.m of last year.).

Causes of price decreases

  • A dramatic increase in average distance from the station (representing 23.0 min in 2015 and 120.0 min in 2016; +421.7%)

Breakdown of each segment

Station:   Segment:

Utinokati, Outi Research

*If you wish to use or reproduce this data, please enter the URL (http://utinokati.com/en/) where the data will be posted. (As a general rule, prior consent is not required.) Our data is based on Ministry of Land, Infrastructure, Transport, and Tourism of Japan (actual market sales prices)